Municipalities Scramble in Wake of New Tax Laws

New York’s governor slammed the passage of the Tax Bill Friday while giving New Yorkers who own property the ability to pay at least a portion of their bill before the end of the year. Governor Andrew Cuomo signed an emergency executive order on Friday. Cuomo said the tax plan primarily favors corporations, and was skeptical they would let any additional money or benefits trickle down to their employees…

Audio: Andrew Cuomo

President Donald Trump signed the federal tax plan into law on Friday. It caps the deductibility of state and local taxes at $10,000, which Cuomo said effectively raises property taxes and reduces home values. Incoming Ramapo Supervisor Michael Specht announced Friday that the Town would allow residents to pre-pay their taxes beginning December 28th. If you have questions about the new tax laws consult a tax professional and your local municipality. 

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